The Spanish Treasury on Tuesday placed treasury bills with a value of 4 billion euros (5.3 billion U.S. dollars) on the market at favorable rates of interest.

A total of 885.69 million euros worth of treasury bills with a three-month lifespan carried an average interest rate of 0.421 percent, below the 0.441 percent of the previous issue.

The remaining 3.1 billion euros worth of treasury bills, with a nine-month lifespan, fetched an average interest rate of 1.444 percent.

After the auction, the Spanish risk premium fell below 360 points after starting Tuesday's trading on 370 points, while Spain's 10-year bond interest rate was above 5.2 percent.

Next Thursday, the Spanish treasury will hold an auction where it aims to sell between 3 and 4 billion euros of medium and long-term debt.

This auction can be considered a success because of the context of the political and economic crisis of Spain, exacerbated by corruption cases involving the governing Popular Party, as well as the Spanish Royal family, which have emerged in recent weeks.

Spain's state of the nation debate will begin on Wednesday, during which the level of the state deficit for 2012 will be revealed. This debt is expected to stand at around 7 percent.

Although this is above the 6.3 percent required by the EU, the EU confirmed this Tuesday that countries making big efforts to reduce fiscal deficit will have more time to meet their deficit targets with a final decision not to be known until Feb. 22. (1 euro = 1.33 U.S. dollars)